Loan Origination Activities · 27% of the SAFE exammedium
Correct answer: Fraudulent instructions redirecting wire transfers of closing funds
Wire fraud typically involves hackers intercepting email communications and sending fraudulent wire instructions that redirect closing funds to criminal accounts. MLOs and settlement agents must verify wire instructions through independent channels.
CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.
Start studying free